The ongoing transformation of the housing estate is in the running for the national honour in the Refurbishment/Revitalisation Project category.
Winners will be announced across the RICS network on Wednesday, May 18, 2022, and via YouTube.
Works have started on building the first new council homes on the Heath Town estate since it was officially opened by HRH Princess Margaret in 1969.
It follows on from an extensive demolition programme of vacant buildings, existing residential blocks undergoing major improvements by Wolverhampton Homes, and the creation of three new play areas and a football pitch.
A mixture of 40, two-bedroom and four-bedroom council houses are currently being built by contractors, EQUANS, across three sites on Hobgate Road and one site on Tithe Croft, off Chervil Rise.
They mark the first phase of a total of up to 200 new homes to be built on the estate over the coming years, with the council set to develop nine sites in total.
All of the new homes will have their own car parking space provided and the majority will come with gardens.
The new play areas, football pitch and green space complement the new housing development, which consists mostly of family homes, and encourage families to take part in physical activity to support health and wellbeing.
City of Wolverhampton Council Director of Housing and City Environment, John Roseblade, said: “To be shortlisted for this prestigious award is recognition of all the hard work and commitment by the council and Wolverhampton Homes – working closely with the residents - on this transformational scheme.
“It is excellent to see the improvements making a difference to people’s lives and works progressing on delivering new council homes for our residents.
"One of our key priorities is to increase the number of decent and affordable homes available in the city and this development will certainly help us achieve that.”
Other works already completed as part of the Heath Town redevelopment include the demolition of walkways and garages in the Hobgate Road area of the estate and the refurbishment of the ground and lower ground floors of Ling House to provide a new office, meeting and activity space for the Hope Family Centre.
The Heathfield Park Neighbourhood Plan was one of the main drivers for the remodelling of the estate. Residents - consulted through the neighbourhood planning process - prioritised new affordable family homes as well as play areas and improved security.